Kian Capital, a provider of equity capital and subordinated debt, has added David Duke and David Hare to its investment team.
“We are excited to welcome two quality additions to the Kian team. David Duke and David Hare will play key roles in supporting our continued growth as we begin investing our recently closed second fund,” said Rick Cravey, Co-Founder and Partner at Kian Capital. Just last month, Kian held a final hard cap closing of its second fund with total capital of $250 million. With the closing of the Fund II, the firm now has over $400 million of capital under management.
“We have known David Duke for over 15 years and are confident that his more than 20 years of M&A and business development experience will drive our efforts to differentiate Kian in the market as a preferred partner for owners, management teams and other stakeholders,” said Mr. Cravey. “David Hare is joining Kian as an Associate and will add depth to our investment team as we continue to execute on our strategy of providing flexible capital to established lower-middle market companies.”
Kian’s second fund continues the strategy of Kian’s first fund by making control and non-control investments in lower middle-market companies, often as the first institutional capital provider to closely held businesses. The new fund has the flexibility to participate in all forms of junior capital, including common stock, preferred equity and subordinated debt. Kian invests from $7 million to $30 million of equity and subordinated debt in companies that have revenues of $15 million to $150 million and EBITDA of $2 million to $15 million. Sectors of interest include business services, value-added distribution, healthcare services, consumer services and products, and niche manufacturing.
David Duke joins the Kian Capital team as Managing Director of Business Development and is primarily responsible for sourcing new platform investment opportunities, developing and managing relationships with new and existing sources of deal flow, and directing strategic marketing efforts. Mr. Duke has over 20 years of experience in private equity and investment banking. Prior to joining Kian Capital, he was the Director of Business Development at Edgewater Capital Partners where he led the firms’ sourcing and development. Prior to Edgewater, Mr. Duke was a Managing Director at Cary Street Partners. Earlier in his career, he was a co-founder of FD Capital Advisors, the investment banking affiliate of CPA firm Frazier and Deeter. He has an MBA from the University of Pittsburgh and a BBA in Finance from James Madison University.
David Hare joins the Kian Capital team as an Associate and is primarily responsible for evaluating, underwriting, and monitoring new and existing investment opportunities. Prior to joining Kian Capital, Mr. Hare was an Analyst in the investment banking group at SunTrust Robinson Humphrey where he focused on mergers and acquisitions, debt financings, and equity issuances for public and private companies in the firm’s technology, media & telecom group. Prior to SunTrust, he was a Senior Associate at PricewaterhouseCoopers in its financial services assurance practice. Mr. Hare has a Masters in Professional Accounting from the University of Texas and a BS in Accounting and Business Administration from the College of Charleston. He is also a licensed CPA in the state of Texas.
Kian Capital has offices in Charlotte and Atlanta (www.kiancapital.com).
© 2018 Private Equity Professional | April 2, 2018